Super Tuesday, a pivotal day in the 2024 presidential election, will see voters from 16 states and one territory cast their ballots, potentially solidifying the candidacies of current President Joe Biden and former President Donald Trump. PIMCO Head of Public Policy Libby Cantrill joins Yahoo Finance Live to discuss Super Tuesday's implications for the upcoming electoral contest. Tuesday will likely serve as the "coronation" of both Biden and Trump as the "eventual nominees" of their respective parties, Cantrill says. However, Cantrill highlights the importance of House ballots, stating that Congress's makeup "should matter to the markets" and will shape the extent of the next president's ability to enact policies. Turning to economic indicators, Cantrill acknowledges that metrics such as inflation and unemployment appear robust "on paper." However, she notes that when comparing price levels from Biden's inauguration to the present day, "things have all increased a lot," sometimes by as much as 30%. She suggests the rise in living costs explains why Biden is receiving "low marks" on his "handling of the economy," despite the resilience of certain economic indicators. As the State of the Union address approaches, Cantrill sees an opportunity for the President to directly address Americans and "tell his narrative," highlighting his administration's accomplishments and effectively "kick[ing] off his campaign" ahead of the presidential election. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
